By Lamin Cham
Twenty-five years ago, Trust Bank Gambia Ltd was incorporated and started operations taking over the business of the Meridian BIAO Bank Gambia Ltd with just 3 branches and 6,400 customers. Today, 25 years later, Trust Bank has 200,000 customers and 18 branches, served by 400 staff from 174 in 1997. The Bank’s asset base also increased from D174.5M in 1997 to D11.6bn by the end of August this year, representing 6548%.
Additionally, total deposits grew from D161M in 1997 to over D9.3bn, representing 5676%.
Led by the managing director Njilan Senghore, herself a product of the success story of the bank (first female Managing Director), the bank staged a glamorous 25 years celebrations this week and ushered in a new milestone, new corporate identity and a logo.
Henceforth, the bank will be called Trust Bank Public Limited Company symbolised by a baobab tree with its multiple benefits for society. “A baobab tree provides fruit, rope, shade for human beings and even shelter for animals,” an admirer of the new logo commented at the unveiling Saturday night at the Kairaba Beach Hotel.
Addressing the gathering, MD Njilan Senghore said as the bank marks 25 years and launched a new corporate identity going into the future, she has never been so excited and confident of its future as she did now. She paid a glowing tribute to the bank’s past and present shareholders, directors, management, staff and customers ‘whose had work and sacrifices got us to where we are today’. Trust Bank, she said, is a market leader already but in a world where nothing stands, the bank operates in an environment with more intense competition and higher consumer expectations than ever before, hence the ushering of significant changes to improve its digital offer as well as drive financial inclusion and deepening its governance system in order to regain the lost ground in international banking services.
Board chairman Franklin Hayford said historical milestones and a variety of achievements characterise the journey of the bank.
“From humble beginnings marred by reputational issues we have gained a lot of investor and stakeholder confidence through our commitment to implementing best practices in the way we do business thanks to our past and present hard-working staff. Today we stand on their strong shoulders and the excellent work and foundation they have laid on which Trust Bank was built”, Chairman Hayford said.
Both the Minster of Finance Seedy Keita and a representative of the Central Bank Governor Buah Saidy expressed admiration for the achievement of the bank in the last 25 years.
”I have been reliably informed that since its inception in 1997 Trust Bank has been steadfast in its growth aspirations, expanding its presence to different parts of the country thus contributing to the GDP of the country and creating job opportunities for young Gambians,” Governor Saidy said.
Finance Minister Keita commented: “The growth of Trust Bank over 25 years has been stellar; from Global Finance award of best emerging bank in six consecutive years – 2003 to 2008 to GCCI Bank of Year for 5 years in addition to being listed in the Accra Stock exchange”.
As part of the event over 25 personalities including retired and current directors and staff as well as loyal customers were awarded for their hard work or patronage of the bank. The awardees ranged from former MD Pa Macoumba Njie to customers Salifu K Jaiteh and Pap Saine Co-director of the Point Newspaper among others.
Earlier on Friday, the bank staged a procession from the Banjul Arch to its headquarters to cheers of admirers along Independence Drive to the heart of the city’s business center.